Key Principal Partners, a USD1bn private investment firm, has invested USD15m in Ice River Springs Water to support a capital expenditure programme and facility expansion that will allow the company to produce recycled PET resin.
The recycled PET pellets will be made entirely from post-consumer materials, which Ice River will then use in the production of its own water bottles.
Headquartered in Ontario, Ice River Springs is a North American environmentally-conscious bottled water company with seven manufacturing plants located throughout Canada and the US. The company primarily provides spring and purified, private label bottled water to both national and regionally-focused grocery retailers, drug stores, mass merchandisers, food service partners and dollar stores.
“KPP’s investment will support our rPET manufacturing project and assist us in becoming the first bottled water company in North America to self-manufacture rPET resin and produce a bottle made from 100 per cent recycled materials,” says Jamie Gott, president and co-founder of Ice River Springs.
“Providing capital to assist a market leader like Ice River with this important strategic initiative represents an ideal investment for KPP,” says Leland Lewis, a partner at Key Principal Partners. “Jamie and Sandy have built an impressive organisation over the last fifteen years and truly epitomise the entrepreneurial spirit. We are proud to invest in a business with such a strong focus on environmental stewardship and look forward to helping support the company’s continued growth.”
